Ecuador: UNASUR Urges Stabilization of Oil Prices
- 8 years ago
UNASUR argued for a stabilization of world oil prices on Tuesday at the Summit of Arab-South American Countries in Riyadh, Saudi Arabia. Oil prices have declined significantly since 2014, causing serious difficulties for exporters like Venezuela, Ecuador, Colombia and Brazil. Ecuador and Venezuela proposed stabilizing prices at around US$80 a barrel to ensure oil field investment and help strengthen the region’s economy. The International Energy Agency said that it may take several years for oil prices to return to that level. teleSUR